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Annual and short period audit
We perform audit engagements in accordance with the Philippine Standards on Auditing (PSA), as required by required by national legislation or other regulations of agencies such as the Bureau of Internal Revenue (BIR), Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP), Insurance Commission (IC), Cooperative Development Authority (CDA), etc.
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Review engagement
We provide a limited or moderate level of assurance that financial statements are free from material misstatements, in accordance with the Philippine Standard on Review Engagements (PSRE).
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Financial statements compilation
We help in the preparation of financial statements of clients in accordance with Philippine Standard on Related Services (PSRS) 4410.
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Security offerings services
We provide assurance services for our clients’ debt and equity security offerings. These include audits or reviews of financial statements, examination of prospectuses, and issuance of comfort letters as required.
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Agreed-upon procedures
We perform agreed-upon procedures in accordance with applicable professional standards, delivering factual findings reports tailored to the specific needs of our clients and relevant third parties. Our services include asset and inventory count observations, financial statement translations, and assistance with regulatory applications such as capital stock increases and debt-to-equity conversions.
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Other related services
We help our clients stay ahead of the evolving complexities in the accounting landscape. Our offerings include training programs, transition and implementation planning, and impact assessments related to newly adopted accounting standards, such as Philippine Financial Reporting Standards (PFRS Accounting Standards) and other relevant frameworks.
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Tax advisory
With our knowledge of tax laws and regulations, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.
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Tax compliance
We aim to minimise the impact of taxation, enabling you to maximise your potential savings and to expand your business.
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Transfer pricing
We provide comprehensive Transfer Pricing (TP) solutions suited to the needs of the client.
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Corporate services
For clients who want to do business in the Philippines, we help set up the business and assist in determining the appropriate and tax-efficient operating business or investment vehicle.
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Tax education and advocacy
We offer seminars and trainings on tax-related developments and special issues of interest to taxpayers.
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Business risk services
We cover a wide range of solutions that help you identify, address, and monitor the risks of your business.
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Business consulting services
We help organisations improve their operational performance, efficiency, sustainability, and effectiveness in today’s dynamic business landscape.
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Transaction services
We help organisations provide strategic advice and support throughout the transaction process and provide financial reporting advisory services to help companies successfully navigate the complex financial requirements in a broad range of scenarios.
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Forensic advisory
We provide support to organisations on dispute resolution, fraud prevention and detection, insurance claims, and other situations requiring detailed investigations.
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ProActive Hotline
We empower organisations to uphold integrity through safe and anonymous reporting.
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Sustainability
We promote responsible and innovative practices that reduce our environmental footprint, promote social responsibility, and ensure long-term economic viability
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P&A Academy
P&A Grant Thornton's unwavering commitment to relevance extends to its learning arm - P&A Academy.
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Accounting Services
At P&A Grant Thornton, we handle accounting services for several companies from a wide range of industries. Our approach is highly flexible. You may opt to outsource all your accounting functions, or pass on to us choice activities.
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Payroll Services
We streamline payroll operations with secure, technology-driven solutions that enhance accuracy, ensure compliance, and free organisations to focus on strategic priorities.
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Human Capital Outsourcing Services
We deliver highly trainable and experienced accounting professionals matched to client requirements, covering center and attrition management, and special projects.
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Our values
Grant Thornton prides itself on being a values-driven organisation and we have more than 38,500 people in over 130 countries who are passionately committed to these values.
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Global culture
Our people tell us that our global culture is one of the biggest attractions of a career with Grant Thornton.
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Learning & development
At Grant Thornton we believe learning and development opportunities allow you to perform at your best every day. And when you are at your best, we are the best at serving our clients
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Global talent mobility
One of the biggest attractions of a career with Grant Thornton is the opportunity to work on cross-border projects all over the world.
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Diversity
Diversity helps us meet the demands of a changing world. We value the fact that our people come from all walks of life and that this diversity of experience and perspective makes our organisation stronger as a result.
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In the community
Many Grant Thornton member firms provide a range of inspirational and generous services to the communities they serve.
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Behind the Numbers: People of P&A Grant Thornton
Discover the inspiring stories of the individuals who make up our vibrant community. From seasoned veterans to fresh faces, the Purple Tribe is a diverse team united by a shared passion.
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Fresh Graduates
Fresh Graduates
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Whether you are starting your career as a graduate or school leaver, P&A Grant Thornton can give you a flying start. We are ambitious. Take the fact that we’re the world’s fastest-growing global accountancy organisation. For our people, that means access to a global organisation and the chance to collaborate with more than 40,000 colleagues around the world. And potentially work in different countries and experience other cultures.
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Experienced hires
P&A Grant Thornton offers something you can't find anywhere else. This is the opportunity to develop your ideas and thinking while having your efforts recognised from day one. We value the skills and knowledge you bring to Grant Thornton as an experienced professional and look forward to supporting you as you grow you career with our organisation.
Urbanization: A challenging future
09 Jul 2019Having the opportunity to work and live in Manila has been a dream of many Filipinos. Many say there are better opportunities in the capital. For a probinsyanalike me who has found luck in the urbane, the big city opened my eyes to different things, people, behaviors, experiences, and learnings. Working in Manila has its ups and downs and its ins and outs. In the past 15 years of living in the capital, I believe I have learned and gone through so much — and I think many can relate.
Investors are attracted to Manila despite the risks, because there are opportunities to earn money. Investors and developers are drawn to cities that offer the best combination of scale, risk, and return. Over the years, urban centers continue to grow in numbers. In effect, we encounter problems and challenges in urban development.
CONGESTION
Traffic congestion plagues the streets of Metro Manila. On an average, commuters spend an hour or more on the road. In fact, the National Capital Region was once considered the metropolitan region with the heaviest traffic in Southeast Asia.
In effect, city dwellers struggle with longer commutes, wreaking havoc on productivity, wasting time, adding fuel expenses and, most of all, causing economic and competitive losses.
ECONOMIC CENTER OUTSIDE THE CITY
In an attempt to decongest the capital, developers are becoming more aggressive in expanding and integrating commercial, office, and residential developments outside major cities. While there are several developments underway, many locations are being built in emerging cities and regions.
There is also directive from the President that new Philippine Economic Zone Authority (PEZA) economic zones be approved within Mega Manila. Under the current administration’s “Build, Build, Build” (BBB) Program, several infrastructure and industrial projects are in place. Key infrastructure projects under the BBB Program include the development of the New Clark City. This planned development in Clark is envisioned to be the next growth driver in Luzon. New Clark City (NCC) is part of the Clark Special Economic Zone. The Clark Development Corp. (CDC) is the operating and implementing arm of the Bases Conversion and Development Authority (BCDA) to manage the Clark Special Economic Zone and the Clark Freeport Zone (CFZ).
BUSINESS INCENTIVES FOR FOREIGN INVESTORS
Enterprises inside these ecozones are entitled to incentives. The applicable incentives for registered special economic zone enterprises are granted under Republic Act No. 7227, otherwise known as The Bases Conversion and Development Act of 1992.
The fiscal and non-fiscal incentives granted by either BCDA, SBMA, or CDC are essentially the same, as follows:
FISCAL INCENTIVES
a. Exemption from national and local taxes. A final tax of 5% on gross income earned is to be paid in lieu of all these taxes. (Gross income refers to gross sales or gross revenues derived from the business activity within the zone, net of sales discounts and sales returns and allowances and less cost of sales, cost of production, or direct cost of services).
b. Tax and duty-free importation of raw materials and capital equipment.
NON-FISCAL INCENTIVES
a. Permanent residency status for investors, their spouses, and dependent children under 21 years of age, provided that they have continuing investments of not less than $250,000.
b. Employment of foreign nationals.
Clark Freeport Zone, which is located in the portion of the Clark Special Economic Zone, enjoys the same tax privileges. The enterprises within these zones are entitled to the same favored rate, as well as duty- and tax-free imports of capital equipment and raw materials.
Aside from the Clark ecozones and providing incentives pursuant to RA No. 7227, several other special economic zones were established under separate laws. Special economic zones in various parts of the country are also entitled to benefits and privileges provided by the law.
With the delayed passage of Tax Reform for Attracting Better and High-quality Opportunities Bill or the so-called TRABAHO Bill that seeks the rationalization of tax incentives and lifting of some of the existing privileges, economic zone developers see expansion opportunities.
In the expectation of the non-passage of the TRABAHO bill, the government may wish to consider enhancing the existing incentives program. It also needs to improve the tax system to attract economic activity to develop new cities and regions into new logistics hubs and centers of trade, finance, or technology.
The challenge is clear: to meet the needs of the people, we need to extend opportunities throughout the region for a better Philippines.
Let’s Talk Tax is a weekly newspaper column of P&A Grant Thornton that aims to keep the public informed of various developments in taxation. This article is not intended to be a substitute for competent professional advice.
Maricel P. Katigbak is a manager of Tax Advisory & Compliance division of P&A Grant Thornton, the Philippine member firm of Grant Thornton International Ltd
As published in BusinessWorld, dated 09 July 2019